Discover ways to save on your commercial auto insurance. Comprehensive car insurance and collision insurance are also common types of car insurance coverage, although no state requires them. Rideshare coverage covers the gaps between your personal insurance and any other insurance offered by the rideshare company so that you're always protected, whether you're waiting for a trip request or leaving someone at home. The main reason car insurance is mandatory in almost every state is because of your personal liability (liability) if you cause an accident.
Keep in mind that car accident investigations can take months to complete if there are serious injuries, multiple drivers and cars involved, and if it is unknown who was at fault. By requiring specific liability insurance for victims of an accident caused by you, they can receive financial help for injuries and property damage without seriously affecting their own financial well-being. Also known as the amount of your coverage, your insurance limit is the maximum amount your insurer can pay for a claim, as stated in your policy. This information is not an insurance policy, does not refer to any specific insurance policy, and does not modify any provision, limitation, or exclusion that is expressly stated in any insurance policy.
The insurance company generally has approximately 30 days to investigate your car insurance claim, although the number of days varies by state. From liability insurance to medical payment coverage, there are all kinds of ways to protect yourself from the unexpected with car insurance. A high deductible can save you more money on car insurance per policy period, but you could end up with high out-of-pocket costs if you file a claim. When you receive a quote for a new insurance policy, the agent or insurer can pre-select coverage limits or present you with some options.
However, drivers who choose not to purchase auto insurance must show that they have sufficient funds to meet the state's financial responsibility requirements (PDF) in the event that they cause an accident.